Jan 25, 2011

BTN FY10 net profit rises 65%

PT Bank Tabungan Negara Tbk (BTN) today reports that it has outstripped 2010's net profit target to rise 63%-65% to Rp809 billion from Rp490.73 billion in the previous year.
BTN President Director Iqbal Latanro said the credit chanelling surged 27%-30% to Rp51.73 trillion last year from the previous year of Rp40.73 trillion.
Net interest margin in 2010 rose above 5.4%-5.7% from 4.65% in 2009.
BTN expects to reach 40% increase in net profit this year, while credit growth may rise 25%-27%. Capital adequacy ratio is expected to stay at 12%.  

Disclosure: No position at the stock mentioned above. 

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